Binance cryptocurrency exchange philanthropic subsidiary Binance Charity Foundation has launched a charity project to help Australia overcome the eco-catastrophe.
According to a blog post, Binance through the Binance Charity Foundation agreed to donate 1 million worth of USD in BNB cryptocurrency. Therefore, supporting the project for the Australia Bushfire Donations.
The cryptocurrency exchange emphasized that the donation aid in reducing the deleterious effect of the disaster.
Binance CEO, Changpeng Zhao commented on the development. He confessed it’s painful seeing bushfires burning across Australia. He also mentioned it’s devastating seeing the effects on the ecology and the local community. Therefore, the charity foundation wants to help.
Furthermore, Changpeng Zhao said that donations through the charity program remains a very direct and effective way to make an impact. And urged the crypto community to join in.
Donations will cover all regions
Binance Charity Foundation Head, Helen Hai, also emphasized that the foundation plans to cover all regions affected. She said their aim is to reach as many local organizations and communities as possible to pass the donations received in crypto to the hands of the beneficiaries.
Importantly, the Australia Bushfire Donations charity project accepts the BNB cryptocurrency for donations. The foundation promised to record all donations and allocations for each project on blockchain. It’ll also be open to public verification.
Binance Charity Foundation
In October 2018, Binance set up Binance Charity Foundation a not-for-profit organization. The foundation claims to be dedicated to the advancement of blockchain-enabled philanthropy. As well as, towards the achievement of global sustainable development.
Furthermore, Binance Charity Foundation wants to transform philanthropy by developing the world’s first decentralized charity foundation. Thus, building a future where blockchain technology gets utilized to end all forms of poverty and inequality. And to advance sustainable development. The foundation also aims at improving transparency in the charity sector and reaching the 17 Sustainable Development Goals as a whole.
Before now, the foundation helped over 100,000 people, and all charity related transactions reportedly exist on the website. Therefore, confirming blockchain’s value in philanthropic use.
To remind, a few days ago, Binance announced the addition of the Polish Zloty (PLN) and the Swedish Krona (SEK) fiat gateways to its platform. Thus, users get the chance to purchase BTC, ETH, BNB, XRP with their Visa cards, using SEK and PLN.